Saturday, 21 February 2009

The Restaurant Recession

I was supposed to be offline this weekend to focus on some other critical projects however my attention has been diverted by ComPost front page headline on the restaurant crisis. I will just post quickly and edit or update later particularly with regard to Queenslands arcane liquor laws .....

This week also Commsec released some reseach behind the latest ABS retail spending numbers. This showed a huge 12.9% decline nationally, adjusted for inflation, in spending at cafes and restaurants.

"One of the clear trends in the latest data was that people are dining out less often. Spending at cafes and restaurants has continued to fall, showing the largest annual decline in records going back 25 years. At the same time a lot more spending is occurring at takeaway food and liquor outlets. Liquor retailing jumped by over 8 per cent in the quarter - matching the largest quarterly increase in nearly 20 years."

Update: LEADING restaurateur Neil Perry has vowed never to open another restaurant in Australia after a protracted battle to get a liquor licence for his two new Sydney restaurants left him $100,000 out of pocket.

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